Cornerstone Therapeutics of Cary became Chiesi USA on Monday, finalizing a $300 million acquisition by Italian drug maker Chiesi Farmaceutici.
The name change makes Cornerstone a wholly-owned subsidiary of Chiesi, previously a majority owner of the Cary specialty drug company.
The company has 64 employees in Cary; Chiesi employs about 4,000 worldwide.
Chiesi USA specializes in commercializing drugs for hospital use and other specialty markets. The company was created in 2008 when Cary’s Cornerstone BioPharma acquired Critical Therapeutics of Boston. Chiesi became a majority owner in 2009.
Chiesi USA also focuses on acquiring other drug developers and marketing generic drugs through its own subsidiary, Aristos Pharmaceuticals.
Staff writer John Murawski